Shri. K.subramanian ( v. Assistant Commissioner Of Income Tax, Circle-Ii, Erode

IN THE HIGH COURT OF JUDICATURE AT MADRAS CORAM THE HON'BLE MR.JUSTICE M. DURAISWAMYANDTHE HON'BLE MRS.JUSTICE R. HEMALATHA Tax Case Appeal Nos.628 and 629 of 2016 Shri. K.Subramanian(Prop.Kavitha Dyeings), No.1/5-261,Athiyur Road, Kadayampatti Post,Bhavani – 638 302. ...Appellant in both appealsVs. Assistant Commissioner of Income Tax,Circle-II,Erode....Respondent in both appeals Tax Case Appeals in T.C.A.Nos.628 and 629 of 2016 filedunder Section 260A of the Income Tax Act, 1961 against the orderof the Income Tax Appellate Tribunal, Chennai "D" Bench, dated26.02.2016 passed in I.T.A.Nos.2514/Mds/2014 and 2515/Mds/2014respectively. TCA No. 628/2016 against the appellate order passed by theCommissioner of Income Tax(A)-1, Coimbatore, dated 30/07/2014made in Appeal No 51/13-14, and against the Assessment orderpaseed by the Assistant Commissioner of Income-Tax Circle-II(I/c), Erode, dated 18/02/2013, made in PAN/GIR No . TCA No. 629/2016 against the appellate order passed by theCommissioner of Income Tax(A)-I, Coimbatore, dated 30/07/2014made in Appeal No. 52/13-14, and against the Assessment orderpassed by the Assistant Commissioner of Income Tax Circle-II,Erode, dated 18/02/2013 made in PAN/GIR . For Appellant : Ms.K.C.Aarthi in both appeals For Respondent : Mr.T.R.Senthil Kumar Senior Standing Counsel in both appeals https://hcservices.ecourts.gov.in/hcservices/ C O M M O N J U D G M E N T (Delivered by M.DURAISWAMY, J.) The above appeals filed by the assessee under Section 260Aof the Income Tax Act, 1961 ('the Act' for brevity), aredirected against the order dated 26.02.2016 passed by the IncomeTax Appellate Tribunal, Chennai "D" Bench, ('the Tribunal' forbrevity) in I.T.A.Nos.2514/Mds/2014 and 2515/Mds/2014 for theassessment years 2007-08 and 2008-09 respectively. The aboveappeals were admitted on 31.08.2016 on the following substantialquestion of law : “Whether on the facts and in the circumstances ofthe case, the Income Tax Appellate Tribunal is rightin law in treating the adjustment of the retentionamount withheld by Assessee out of the cost of thewind energy generator on failure on the performance ofthe wind energy generator with minimum guaranteedgeneration should be treated as revenue receipt” 2. We have heard Ms.K.C.Aarthi, learned counsel for theappellant/ assessee and Mr.T.R.Senthil Kumar, learned SeniorStanding Counsel for the respondent/Revenue. 3. It may not be necessary for this Court to decide theSubstantial Question of Law framed for consideration on accountof certain subsequent developments. The Government of Indiaenacted the Direct Tax Vivad Se Vishwas Act, 2020 (Act 3 of2020) to provide for resolution of disputed tax and for mattersconnected therewith or incidental thereto. The Act of theParliament received the assent of the President on 17[th] March2020 and published in the Gazette of India on 17[th] March 2020. 4. We are informed by the learned counsel for the appellant/assessee that the assessee had already been issued with Form-3on 15.04.2021 and the learned counsel for the appellant seekspermission of this Court to withdraw the above appeals. 5. In view of the submission made by the learned counsel forthe appellant/assessee, the above Tax Case Appeals standdismissed as withdrawn. No costs. Sd/- Assistant Registrar //True Copy// mkn Sub Assistant Registrar To 1.Income Tax Appellate Tribunal, Chennai "D" Bench Chennai "D" Bench 2.The Assistant Commissioner of Income Tax, Circle-II, Erode. 3.The Commissioner of Income Tax(A)-1, Coimbatore. +1cc to Mrs.K.C.Aarthi, Advocate, S.R.No.23812+1cc to Mr.T.R.Senthil Kumar, Advocate, S.R.No.23830Tax Case Appeal Nos.628 and 629 of 2016EV(CO)RN(04/05/2021)